By Omar al-Jaffal for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq's plans to cut salaries face strong backlash The government of Iraqi Prime Minister Mustafa al-Kadhimi is seeking to reopen the "social justice" issue regarding state spending on salaries. […]
The Iraqi Cabinet held its regular meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi. At the start of the meeting, the Prime Minister outlined the challenges facing the country in relation to Covid-19 and the Iraqi government's efforts to combat the pandemic and provide support to health institutions and medical […]
Iraq's Council of Ministers (Cabinet) has announced details of its decision taken at its regular weekly meeting on 09/06/2020 in relation to the payment of more than one salary and other benefits to former detainees at Camp Rafha. The decision ends the payment of more than one salary, restricts the payment to heads of household […]
From Al Jazeera. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Some of Iraq's most traditional craft works are at risk of vanishing, as a nationwide financial crisis hits home-grown industries. The government hopes prioritising the development of its private sector will help its […]
Iraq's economy could reach irreversible lows within the next year unless urgent reform measures are adopted, its Finance Minister warned in an exclusive interview with AFP on Monday. More here. (Source: AFP)
By John Lee. Genel Energy has announced the appointment of Canan Ediboğlu as an Independent Non-Executive Director, with immediate effect. Canan has significant industry, financial, and corporate experience. She has been a non-executive board member of ING Bank in Turkey since 2010, and Tupraş since 2017. Canan was formerly non-executive Board member of Aygaz between […]
By John Lee. Fitch Ratings has affirmed Trade Bank of Iraq's (TBI) Long-Term Issuer Default Rating (IDR) at 'B-' with Negative Outlook. A full list of rating actions is below. The Negative Outlook mirrors that on the sovereign. This reflects the impact of oil price slump on Iraq's fiscal and external finances, near-term uncertainty over […]
By Azhar Al-Ruabie for Al-Monitor. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Basra, the richest city in Iraq with little water to drink Iraq's third-largest city, Basra, was once called "Venice of the East" due to the numerous water canals and bridges meandering […]
Al-Burhan Security (ABS) has introduced quality management processes from day one of its operations to prepare for ISO 18788:2015, ISO 9001:2015 accreditations and also ANSI/ASIS PSC1. With a focus on quality management systems and processes the ABS Leadership team continues to work hard to further develop quality and operational procedures to ensure compliance with the […]
By John Lee. According to Bloomberg Law, a group of bondholders of Shamaran Petroleum has reportedly appointed restructuring specialists Akin Gump Strauss Hauer & Feld LLP to advise on ongoing debt talks. ShaMaran Petroleum said last week that that it continues to examine alternatives to address a breach of financial covenant and liquidity shortfall, and […]
Timely $10 million USAID contribution protects more communities against COVID-19 outbreak The United States Agency for International Development (USAID) has committed over US$10 million recently to fight the COVID-19 pandemic in Iraq, allowing the United Nations Development Programme (UNDP) to scale-up its response to the pandemic into three additional governorates. The funds - pledged under […]
Iranian Oil Minister Bijan Namdar Zangeneh and his Iraqi counterpart Ihsan Abdul Jabbar discussed ways to promote cooperation between the two neighbors in the oil industry. In a telephone conversation, Zangeneh and Abdul Jabbar called for the expansion of oil cooperation between the two Muslim neighbors. The Iranian minister congratulated Abdul Jabbar on taking office […]
